Good looking, good rate and good location…what else is there?

May 4, 2012 at 2:56 pm Leave a comment

What else indeed. According to housing experts, many buyers are generally swayed with a home’s overall appearance, financing and location when purchasing their new home. However, there may be some overlooked factors that can affect a home buyer’s long-term satisfaction.

A recent article at U.S. News & World Report lists tips for those often-forgotten aspects of home ownership. Let’s take a look at 3 from the top of the list:

  • Remodeling Restrictions:
    Investigate any limitations set upon your property by a community association. There may be potential red-tape on remodeling projects on a home.
    Restrictions can range from minor exterior changes, such as the home’s paint color, to larger impediments, like limitations on outbuildings (e.g. a guest house) or garages.
  • Neighborhood Amenities
    Exploring neighborhood amenities such as schools, public transportation, recreational parks, and proximity to entertainment are additional things to consider when buying a house.
    While some of these may not seem outwardly important at first, they contribute to heightened housing market values in the community and affect whether you’re satisfied with your home purchase.
  • Crime Rates
    Before moving into a new community, many Americans recognize the importance of low crime rates, as it affects their personal safety. What some do not consider, however, is the impact that cities with high crime rates have on monthly budgets.
    Even if your home does not fall victim to a burglary or if you never experience an actual personal property theft, simply living in a high-risk neighborhood can send monthly bills upward, like inflated auto insurance premiums.

[READ FULL ARTICLE]

Source: “4 Not-So-Obvious Things to Research Before Buying a Home,” U.S. News & World Report (May 2, 2012)

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